Britain doubles aid to Pakistan

ISLAMABAD- The United Kingdom Thursday announced to double its financial assistance to Pakistan by 480 million Pounds during the next three years. The aid will be used to eradicate poverty with special focus on restive border areas. Douglas Alexander, British Secretary of State for International Development also unveiled the UK's new Country Plan for Pakistan. It outlines the UK government's assistance programme for the next five years. The increase would enable Pakistan to become the second largest recipient of the UK aid programme. The money will be used in the areas of health, good governance and earthquake reconstruction. The UK government wants special emphasis on assistance to the border areas as well as on education. An amount of 250 million Pounds will be utilized to bring five million children into school and increase training opportunities for young people. The assistance programme outlines that 500,000 young people would benefit from technical and vocational education. The lives of 350,000 more children and 30,000 pregnant women will be saved. Finance Minister, Syed Naveed Qamar held bilateral discussions with British Secretary of State for International Development Douglas Alexander in this regard. The British Secretary of State said that the United Kingdom had long been a great friend of Pakistan. The UK was committed to helping Pakistan's efforts in fight against poverty for many years, he added. The Finance Minister, Syed Naveed Qamar, acknowledged the Department for International Development's strategy, which is marked by a common approach of identifying short and medium-term priorities to fight poverty in Pakistan and help achieve the target of the Millennium Development Goals. As part of its commitment, the UK government will also provide 50 million UK Pounds to the State Bank of Pakistan to support a new drive to open up financial services to poor people - to encourage wealth and job creation by making available loans and access to bank accounts. A Memorandum of Understanding to this effect was signed by the Governor State Bank of Pakistan, Dr Shamshad Akhtar and British Secretary of State on behalf of DFID of the UK government. Earlier, during one-to-one meeting with UK Secretary of State, Naveed Qamar said that the government was focusing on privatization portfolios, besides widening its domestic and foreign investment plans.